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Matthew Taylor, owner of Savage Yachts LLC in Madeira Beach, faces several charges

A Florida business owner was arrested Friday and faces multiple charges associated with operating his yacht brokerage firm as a Ponzi scheme and cheating four customers of US$1.5m.

The Pinellas County Sheriff’s office has charged 42-year-old Matthew Taylor, owner of Savage Yachts LLC in Madeira Beach, with one count of first-degree scheme to defraud, four counts of grand theft and four counts of money laundering following an investigation that began in February of this year, according to WTTV-TV.

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